European Equity Benchmarks Edge Higher


The broad-based major European indices closed slightly higher Tuesday, despite being weighed by slumping banking stocks.

In economic news, the Official U.K. home ownership rate of 64% is overestimated, according to think tank the Resolution Foundation. The group says barely half of all families in Britain own their own homes.

“Conventional rates of home ownership may offer a misleading picture as they only tell us the proportion of properties which are owned by an occupier,” said the Resolution Foundation. “Surely it makes more sense for those of us interested in living standards to think instead about the proportion of people who do (or don’t) own their homes.”

The group said the official ownership rate was inaccurate because it excluded individual renters, and would count a house shared by five unrelated people as one rented household, rather than five separate renters.